Raymond James analyst Dan Wewer reiterated an Outperform rating and $40 price target on Big Lots following the company's quarterly earnings report. In a research note to investors, Wewer says Big Lots is pursuing a number of promising initiatives that are beginning to benefit the company's top-line growth, but believes rising expenses tied to these initiatives will pressure EBIT and EPS for a second consecutive year. He raised his Q2 EPS forecast to 39c from 37c, in line with management's guidance, and raised his FY19 EPS outlook to $3.84 from $3.75, at the high end of management's revised guidance.